ICICI Bank has announced a single rate of 10.15 per cent for all floating rate home loans up to Rs 5 crore for salaried individuals.

For self-employed individuals, the floating rate of interest will be 10.15 per cent for loans up to Rs 75 lakh and 10.35 per cent for loans from Rs 75 lakh to Rs 3 crore.

The new rate of interest is effective from August 14 for loans sanctioned up to August 31. The bank has also launched a 10-year fixed rate home loan product at 10.25 per cent.

Effective May 15, the bank had cut home loan rates for new borrowers by 10 basis points to 10.15 per cent from 10.25 per cent for loans below Rs 75 lakh. The scheme was supposed to close on June 30 but has been extended. ICICI Bank’s base rate is 10 per cent. For woman borrowers, the new interest rate is 10.10 per cent for loans up to Rs 75 lakh.

HDFC, the country’s largest mortgage lender, slashed home loan rates to 10.15 per cent for new borrowers irrespective of the loan amount effective August 1.

The Delhi Development Authority’s 2014 housing scheme will be tabled in DDA’s meeting, chaired by Lt-Governor Najeeb Jung, for clearance on Thursday, which will be the biggest housing scheme to be launched by the DDA in the capital

For long, Mumbai and Delhi-NCR have always given property buyers the best capital value appreciation. After the downturn years, however, it's the IT-led cities of Bangalore and Pune that have surged ahead in capital appreciation in residential properties

The Reserve Bank of India will encourage banks and individuals to be actively involved in home loan deposits, a savings product that will help showcase the repaying ability of customers seeking to borrow money to buy a house